by Moe Bedard
Consumers: Bailout aided lenders, not us
James Seeley and Hilary Egan live in different towns, but have lots in common: Both face financial woes, both applied for mortgage modifications and both got turned down.
And, like lots of Americans these days, both feel banks that got massive taxpayer bailouts aren’t reciprocating by helping U.S. consumers.
“I don’t know [...]
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by Moe Bedard
The system also led to confusion. When MERS was involved, borrowers who hoped to work out their loans couldn’t identify who they should turn to.
As cases filed by MERS grew, lawyers representing troubled borrowers began questioning how an electronic registry with no ownership claims had the right to evict people. April Charney, a consumer lawyer [...]
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